DALLAS-Admitting it’s still a “moving target,” well-known local banker Dick Seib has his eye on developing a $150-million to $200-million town center in North Oak Cliff. Site work is about to ramp up for the first construction, with the 30-acre tract to be completely scraped in early 2009.

About two years ago, Seib and his family bought three contiguous blocks, including a 6.4-acre parking lot at the city’s fabled Bronco Bowl, now gone and backfilled with a Home Depot. The land assembly includes a 68-year-old apartment complex, Colorado Place at 2300 Fort Worth Ave., which is gradually being emptied to make way for the new, La Reunion Town Center.

Seib tells GlobeSt.com that construction financing is in place for the entire project. Ground will break on the parking lot site in 60 days for a 198-unit seniors’ housing project, the Fairways at La Reunion, with completion coming five months later. Next, the demo crew will begin to raze the 28-building complex with 342 units.

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